Revised Mayo financing plan expected by next weekST. PAUL — A reworked plan to finance public portions of a massive Mayo Clinic expansion in Rochester is expected to be ready by early next week.
By: Associated Press, INFORUM
ST. PAUL — A reworked plan to finance public portions of a massive Mayo Clinic expansion in Rochester is expected to be ready by early next week.
Rep. Kim Norton says officials are fine-tuning a proposal that could shift more costs to local taxpayers and rely on bonds that put fewer burdens on the state. Mayo says it and private partners will invest billions in an expansion if the state commits as much as $585 million for upgrades to roads, sewers and other public assets.
Mayo officials contend growth in tax revenue from the new development and related jobs will be enough to repay any public debt.
Dr. Bradly Narr of Mayo had to respond to lawmakers irritated by the clinic's CEO, who told a Star Tribune reporter in Washington that 49 states would covet Mayo. Some lawmakers saw Dr. John Noseworthy's remark as a relocation threat, with Rep. John Lesch of St. Paul calling it "dumb." Narr says Mayo remains committed to Minnesota as the most logical place to grow.
Copyright 2013 The Associated Press.